Which is better MoneyGram or Remitly? (2024)

Which is better MoneyGram or Remitly?

The answer to this all depends on your needs. Remitly may offer some first time transfer promotions from time to time which could give you low to no fees. MoneyGram also offers the mid-market exchange rate for many routes, and has low to no fees for bank-to-bank transfers.

Which is better Remitly or MoneyGram?

Neither score too well but MoneyGram narrowly takes the lead over Remitly. Remitly does not offer any business services and both score low in their fees and exchange rates. Both providers do score relatively well in the Ease of Use and Support and Countries categories.

What is the disadvantage of MoneyGram?

Fee system: MoneyGram's fee system is a significant issue. While providing convenience, the accompanying fees are frequently on the higher end when compared to alternative solutions. Customers looking for more cost-effective international money transfer alternatives may be put off by this pricing factor.

How trustworthy is MoneyGram?

MoneyGram considered as a secure, well-trusted way to send and receive money. It is licensed in all 50 of the states in the United States, as well as the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Guam. MoneyGram is a licensed Authorized Payment Institution in the United Kingdom.

How reliable is Remitly?

Yes, it is safe to send money with Remitly. Not only is the business licensed and recognized as a money transfer provider, its website and apps use modern security measures to protect your information and your money. How do I cancel a transaction with Remitly?

What is the disadvantage of Remitly?

Cons. Credit card fees: Remitly may charge you a fee of 3% if you choose to pay by credit card⁴. Mark-ups on the mid-market rate: Remitly may add a mark-up to the mid-market rate, meaning that you may pay more than you may expect.

How much does MoneyGram charge to send $100?

The fee for a transfer with MoneyGram varies depending on the amount you want to transfer. MoneyGram charges a flat $5 fee to send amounts between $1 to $49 and a flat rate of $11.50 on amounts between $50 and $499. The fee on amounts of $500 and above is 2%. There is also a maximum amount of $10,000 per transfer.

What is better than MoneyGram?

Xe has fast transfers with low fees and a range of foreign currency tools. CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.

Why would someone use MoneyGram?

Who is MoneyGram? MoneyGram provides money transfer and other financial services around the globe with both digital platforms and retail locations. Consumers can send money internationally to friends and family, pay bills and more with affordable fees and great exchange rates.

What percentage does MoneyGram take?

What if I get scammed on MoneyGram?

If you used MoneyGram to wire money as a result of a scam, contact MoneyGram at 1-800-926-9400, or report fraud through our form online.

Can I get my money back from MoneyGram if scammed?

Any monies received by a stranger cannot be recovered and, unfortunately, you will not get your money refunded back to you. MoneyGram is very safe when sending to someone you know and trust.

Should I use MoneyGram or Western Union?

While both Western Union and MoneyGram allow you to send money to all countries worldwide, the support for sending countries is more robust in the case of Western Union. Western Union 🏆 has better coverage of global countries and currencies as compared to MoneyGram.

Why would someone use Remitly?

At Remitly, our transfer process is quick, affordable, and secure. We'll provide you with the total cost and delivery time before you send your transfer. Choose a payment method that works for you, such as a debit or credit card.

Why is Remitly so good?

People needing cash pickup: Remitly offers cash pickup networks in over 130 countries, often with better rates than traditional remittance companies. This is a key advantage. People without bank accounts: Recipients without bank accounts can use Remitly's cash pickup option in many countries.

Why should I use Remitly?

Easy, fast and secure money transfer. This platform also provides better rates, making it more cost effective. It gives you promotional benefits if you recommend remitly to friends and for first few transaction for particular amount it rewards the person who recommend.

Is it safe to give SSN to Remitly?

We have put in place SSL (Secure Socket Layer) encryption technology to protect your sensitive information such as bank account number, credit card number, date of birth and government identification number, transmitted through our Site and/or our App.

Which is better Remitly or Western Union?

While the exact options do vary depending on the country you're sending to, Remitly often has a faster – more expensive – service, or a cheaper, slower one. Western Union fees vary depending on where you send to, how you pay, and how you want the money to be received.

Does Remitly charge a fee?

Enjoy consistently great rates and no hidden fees. No fees on your first transfer with Remitly.

Can I send $2000 through MoneyGram?

How much money can I send online? For most countries, you can send up to $10,000.00 per online transfer, and up to $10,000.00 every 30 calendar days. If necessary, you may send additional funds from a Walmart powered by MoneyGram agent location.

Is MoneyGram cheaper?

SAVE on bank transfer fees and get better exchange rates on international wire transfers with MoneyGram. With a savings on bank transfer costs versus traditional banks, you'll save on ACH fees and EFTs (Electronic Funds Transfers) when you send $5K in a single online bank-to-bank transfer.

Is MoneyGram free to send money?

Fees vary depending on where you are sending, how much, and how you are paying. Fees are typically lower if you pay with a bank account (must be a U.S. checking account). If you pay with your credit or debit card, the fees are slightly higher. Go to Rates and Fees to see how much a transfer will cost.

How long does it take for MoneyGram to process?

Expect 7 business days processing. A reference number will be sent to you via email for you to collect your funds at any MoneyGram agent. For fee details, please read the ”What are the processing fees?” question below.

How long does MoneyGram take to transfer internationally?

Why MoneyGram declined my transaction?

Your transfer may have failed for a few reasons, including but not limited to: Insufficient funds in your bank account. Transfer amount over the daily send limit imposed by your bank. Instability with bank connectivity.